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Regulation and Compliance
Coming Up:
'Rinse-Repeat Cycle': Wells Fargo To Pay $3.7B For Violations
CFPB found the bank engaged in illegal practices on mortgage and car loans
Democrat, GOP State Attorneys General Ask Supreme Court To Rule on CFPB Constitutionality
Both groups support petition to hear case, but differ on how court should rule.
FHA Announces Pandemic Aid For Seniors With HECMs
The plan helps senior homeowners with FHA-insured HECMs who are behind on required property charge payments due to effects of the COVID-19 pandemic.
FHA Now Allows 'Double-Dipping' On Loans
Update of conflict of interest rule allows individuals to serve as both MLO and real estate agent, with certain restrictions.
The Fed Adopts Final Rule To Replace LIBOR
Final rule identifies benchmark rates based on SOFR to be used effective June 30, 2023.
The Fed Hikes Interest Rate 0.5%, Raises Target For '23
The 50-basis-point hike is 7th in 2022, but target range for 2023 is still 85 basis points higher.
MISMO Names Acting President As Appleton Departs
VP of Operations Jan Davis to serve as interim president until a permanent replacement is chosen.
L.A.-Area Broker To Serve Time For Defrauding Lenders
Alex Ashod Dadourian convicted on 91 counts for $8 million in mortgage fraud.
Ginnie Mae Has Doubled The Proportion Of VA Loans In Its Portfolio
In report to Congress, agency says VA loans have risen to 45% of its MBS portfolio over 10 years.
Fannie Mae Updates Underwriting To Help 'Credit Invisible' Borrowers
Enhancement to Desktop Underwriter system intended to support loans when borrower has no credit score.